Ameriprise Financial, Inc. (NYSE:AMP) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Ameriprise Financial, Inc. (NYSE:AMP) have been given an average rating of “Moderate Buy” by the ten brokerages that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $480.44.

Several research analysts have commented on AMP shares. Jefferies Financial Group lifted their target price on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. UBS Group increased their target price on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Royal Bank of Canada boosted their price target on shares of Ameriprise Financial from $500.00 to $535.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. Finally, Keefe, Bruyette & Woods raised shares of Ameriprise Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 10th.

Insider Transactions at Ameriprise Financial

In related news, VP William Davies sold 8,700 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $442.07, for a total value of $3,846,009.00. Following the completion of the sale, the vice president now directly owns 13,199 shares of the company’s stock, valued at $5,834,881.93. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Ameriprise Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in Ameriprise Financial by 18.6% in the 1st quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock valued at $1,685,436,000 after purchasing an additional 603,267 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Ameriprise Financial by 10.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock valued at $482,588,000 after buying an additional 110,319 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Ameriprise Financial by 1.4% during the second quarter. Legal & General Group Plc now owns 823,249 shares of the financial services provider’s stock valued at $351,685,000 after buying an additional 11,060 shares during the last quarter. TD Asset Management Inc increased its position in shares of Ameriprise Financial by 18.8% during the first quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock worth $310,248,000 after acquiring an additional 111,973 shares in the last quarter. Finally, AGF Management Ltd. raised its holdings in shares of Ameriprise Financial by 35.4% in the 2nd quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock worth $215,584,000 after acquiring an additional 131,844 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Stock Performance

NYSE:AMP opened at $520.47 on Friday. The stock’s 50-day moving average is $464.19 and its 200-day moving average is $439.06. Ameriprise Financial has a 1-year low of $306.63 and a 1-year high of $524.89. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. The stock has a market cap of $51.70 billion, a P/E ratio of 17.72, a price-to-earnings-growth ratio of 0.81 and a beta of 1.35.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The firm had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter last year, the firm earned $7.44 earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities research analysts anticipate that Ameriprise Financial will post 34.92 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.14%. Ameriprise Financial’s dividend payout ratio is currently 20.15%.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.